Sunday, March 15, 2009

Obama Giveth And Obama Taketh Away

Am I the only one who feels as if they are slowly slipping into madness since January 20th? This is my only explanation to what I keep seeing on the news. We cannot possibly have someone leading the country that is this idiotic so it must be me that is going insane. Maybe with my new onset mental illness I am only imagining stories like this.

Obama to Unveil Proposals to Help Small Businesses

WASHINGTON - Amid misgivings over his spending blueprint, President Barack Obama has decided to provide billions of dollars in federal lending aid aimed at struggling small business owners.

The broad package of measures to be announced Monday includes $730 million from the stimulus plan that will immediately reduce small-business lending fees and increase the government guarantee on some Small Business Administration loans to 90 percent. The government also will take aggressive steps to boost bank liquidity with more than $10 billion aimed at unfreezing the secondary credit market, according to officials briefed on the plan who demanded anonymity to avoid pre-empting the president's announcement.

"It's a huge step in the right direction," Giovanni Coratolo, director of Small Business Policy at the U.S. Chamber of Commerce, said Saturday. "In this economy, having the least amount of risk for banks will incentivize banks to lend to small businesses. A lot of small businesses will benefit from this."

Obama will announce the new measures with Treasury Secretary Timothy Geithner at the White House.

They come as Republicans have sought to build on some bipartisan misgivings over Obama's ambitious spending blueprint. In particular, Republicans say Obama's budget proposal to raise taxes, starting in 2011, on individuals earning more than $200,000 and on households earning more than $250,000 will hurt small businesses which face higher dividend taxes and limits on itemized deductions.

The administration's proposals to improve worker access to health care and address climate change also could add higher health and energy costs to small businesses. The Obama administration maintains that revenue from auctioning off carbon emission allowances would offset much of the higher energy costs for many Americans.


So what we are talking about here is giving BILLIONS to small business to help them out and build their businesses so that we can then destroy them later with income tax increases and itemized deduction decreases, taxes on employee paid health care, and taxes on energy costs?

It will be okay though because we will saved by these "carbon emission allowances" auctions, whatever in the Hell that is.

So anyways, drop a comment if you would, I'm going to sit here and drink my coffee and continue my descent into madness. I'm okay though because there are a lot of people here talking to me, I just can't see them.

10 comments:

Always On Watch said...

Am I the only one who feels as if they are slowly slipping into madness since January 20th? This is my only explanation to what I keep seeing on the news.

Well, you're not the only one.

I've been feeling that the world is upside down ever since BHO started his big push into socialism.

What distresses me the most is that so many people can't see what is happening as this administration tightens the noose on America and, at the same time, jeopardizes out national security with the wimpy messages being sent to foreign entities.

LASunsett said...

//Am I the only one who feels as if they are slowly slipping into madness since January 20th? //

Hardly.

The 50+ days of Team O in the WH has been a juggernaut, which can be a shock to any system. It seems to be a race to undo everything that GWB did, so much so that even where they are keeping his policies pretty much intact, they are claiming to be reversing course.

But, if we remember, this is what he said he was going to do and people thought he was just pandering to his base. They really believed he would govern from the center.

I had little hope that he would, but still I gave him a chance. It lasted about two days and it was then I knew we were in for some rough rides over the next four years. How can a student of the Saul Alinsky model ever be a centrist?

But in the larger scope of things, every generation needs a Jimmy Carter to open their eyes to the ineptitude of liberal, socialist policies. This generation is no exception.

Papa Frank said...

AOW is completely right. Obama is not only clueless on the job/economic front, as the market indicates, but is very dangerous on foreign policy. We no longer have any "enemy combatants" because......well....I guess we no longer have enemies?!? He spends his time abroad bashing Republicans to foreign leaders while Hillary gives 900 million to those who elect terrorist organizations to rule them. Here at home he calls out people by name who dare oppose him and sends his minions to crush them. Kramer, Limbaugh, etc...

Leslie said...

Oh dear. I think I am with you. As one who dabbled in the small business field at one time I say this:

GET OUT OF OUR WAY!

Get rid of all the extra taxes placed on small businesses and you will see a legitimate difference in the small business world.

Keep throwing tax payer dollars at the issue and raising taxes on small businesses and you wreck the whole economy--plumeting it into an irreconcilable blackhole that crashes in on itself.

Anyway, I am enjoying my coffee this morning...really I am...say hi to all your little invisible friends for me Chuck.

*we all live in a bright and happy world now where there are no bad guys Papa Frank. It is all sunshine and lemon drops...as long as you give your money, mind, and soul over...

Flavor Country said...

Ok Chuck, yes 2.7% of those small business that net $250,000 profits will see a tax hike from what 36 to 39%.

Let's say you make $260,000 your tax increase is now $300 more than the year before. The increase only effects the top two brackets of income, not what you make up until that 200 or 250 thou.

By 2011 we should be out of this thing, people act like taxes have never been raised before. I live in Cook County my taxes go up every year, yeah I get pissed but I'm a big boy I'll survive. If we can survive two simultaneous wars, bank collapses, extreme recession etc... we can survive a tax hike.

I probably won't have social security when I retire, my home value has dipped significantly, my wife small business is struggling......but hey I'll make it, I always do.

Take Care my friend

Brooke said...

Chuck, we're in the Mirror Universe.

That HAS to be it.

Chuck said...

AOW, now the fundamentals of the economy are strong according to an Obama official. Do we remember when McCain said this?

LA, But in the larger scope of things, every generation needs a Jimmy Carter to open their eyes to the ineptitude of liberal, socialist policies. This generation is no exception.

I have written the exact same thing. I feel the reason Obama was elected is that the young people (Obama voters) were not old enough to know what real liberalism was. For all of his faults, and he had a lot, Clinton was not far left.

PF, it's amatuerism in the WH

Leslie, sometimes it's better if you just slip away and let the madness take you, just go to a happy place and stay there. :-)

Flavor, I'm not sure where the 2.7% iss from. 100% of small business people making more than $250,000 are getting an increase.

The problem is, this is just the beginning.

He is cutting the deductions.

He is raising fuel taxes, a killer for some small businesses. Fuel taxes are an insidious tax, they cost the business more for their own fuel and their products and/or services they consume. They then have to either raise prices, cut services, or cut staff.

He is talking about taxing health care benefits, likely to fall on the employer so he can say he is "protecting" the middle class.

We'll talk again in a couple of years.

Brooke, I wonder if we slipped through a portal or soemthing. Maybe slipped into a bizzaro universe?

Flavor Country said...

Chuck, my last point on this one is. All this disaster around the economy and small businesses were said by critics of the Bush administration, now we have the opposite side who are critics of the Obama administration.

Somebody has to be right. None of us are experts and now the experts are turning out to be as bright as we are on the subject.

But like said, whatever happens I will survive and I'm sure you will to. Have Faith

Take Care all

Papa Frank said...

Chuck -- The WH has become like happy hour and karaoke with stand up comedy about republicans on the side. When it comes to our money and freedoms it is becoming a whorehouse where both are traded for a socialist wet dream. Stop this nightmare because I want OUT!!!

mksviews said...

It's a similar thing here Chuck, they're supposedly helping small business by shafting with tougher workplace laws and emissions curbs and taxes.

They all like to rail against big corporates, but when it comes down to it, few of them actually do anything to help the little guy.